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Name - Ventures Resource Corporation
Website -
Symbol - VRS.RT
Cusip Number - 922935 12 7 
Expiry Date - Sept. 1, 2000
News Releases

Ventures rights offering

2000-07-24 17:49 ET - Rights Offering

The company has announced it will offer to shareholders of record at Aug. 1, 2000, rights to purchase shares of the company. One right will be issued for each share held. Ten rights and 12 cents are required to purchase one unit, each unit consisting of one share and one common share purchase warrant. The rights offering will expire on Sept. 1, 2000. One common share purchase warrant and 20 cents entitles the buyer to purchase one share of the company up to Aug. 1, 2001. As at July 19, 2000, the company had 63,133,643 shares issued and outstanding.

Effective at the opening, July 28, 2000, the shares of the company will trade ex-rights and the rights will commence trading at that time on a when-issued basis. The company is classified as a mining company.

Basis of offering: 10 rights exercisable for one unit at 12 cents per unit
Record date: Aug. 1, 2000
Trade ex-rights: July 28, 2000
Rt trade date: July 28, 2000
Rt trade for cash: Aug. 30, 2000
Rt cease trading: 12:00 p.m., PT, on Sept. 1, 2000
Rights expire: 4:00 p.m., PT, on Sept. 1, 2000
Rt trading symbol: VRS.RT
Rt Cusip No: 922935 12 7

Wt trading symbol: VRS.WT

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Explanation

Rights

Rights give existing shareholders a chance to proportionately buy shares in the new issue the company is putting out to raise more funds. The certificate showing this privilege is called a right.  It  gives the stockholders the first opportunity,  to buy the new securities.

Rights issue

An offer made by a  company to its shareholders to enable them to buy new shares in the company at a discount to the market price.

 

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